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KEMP v. ANGEL

381 A.2d 241 (1977)

Robert B. KEMP, Jr. and I. Wistar Morris, III, Plaintiffs, v. Sterling W. ANGEL, Richard M. Burdge, Leonard A. Colavita, Frank F. Jordan, Harry D. Madonna, Ina Corporation, a Pennsylvania Corporation, Ina Capital Corporation, a Delaware Corporation and Aid, Inc., a Delaware Corporation, Defendants.

Court of Chancery of Delaware, New Castle.

Decided December 7, 1977.

Attorney(s) appearing for the Case

Charles S. Crompton, Jr., Robert K. Payson and James F. Burnett, of Potter, Anderson & Corroon, Wilmington, for plaintiffs.

S. Samuel Arsht, William O. LaMotte, III and William T. Allen, of Morris, Nichols, Arsht & Tunnell, Wilmington, for defendants Ina Capital Corp. and Aid, Inc.

MARVEL, Chancellor.

Plaintiffs, who are admittedly stockholders of the defendant Aid, Inc., sue derivatively for the alleged benefit of such corporation as well as on the alleged behalf of a class of stockholders consisting of persons other than themselves who are holders of Class A common stock of Aid, Inc., excluding, of course, the defendants Ina Corporation and Ina Capital Corporation against which relief is sought.

According to the complaint herein, the...

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